Can I retire at age 72 with 1,420,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $1,420,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$117,262$116,218$115,199$114,204$113,233$112,144
2 years$58,051$56,969$55,922$54,906$53,920$52,823
3 years$38,316$37,230$36,185$35,179$34,209$33,138
4 years$28,451$27,368$26,333$25,344$24,398$23,361
5 years$22,533$21,457$20,436$19,467$18,547$17,548
6 years$18,589$17,521$16,515$15,568$14,676$13,715
7 years$15,773$14,714$13,724$12,799$11,935$11,013
8 years$13,662$12,613$11,639$10,737$9,902$9,018
9 years$12,021$10,982$10,025$9,145$8,339$7,494
10 years$10,709$9,680$8,740$7,883$7,105$6,298
11 years$9,636$8,617$7,694$6,861$6,110$5,341
12 years$8,743$7,735$6,829$6,018$5,295$4,563
13 years$7,988$6,990$6,101$5,313$4,617$3,921
14 years$7,341$6,354$5,482$4,716$4,048$3,386
15 years$6,781$5,804$4,949$4,206$3,564$2,936
16 years$6,291$5,325$4,487$3,766$3,150$2,555
17 years$5,860$4,904$4,083$3,384$2,793$2,230
18 years$5,476$4,532$3,727$3,049$2,483$1,951
19 years$5,134$4,200$3,412$2,755$2,213$1,711
20 years$4,826$3,903$3,132$2,496$1,977$1,503
21 years$4,548$3,635$2,880$2,265$1,769$1,323
22 years$4,295$3,393$2,655$2,059$1,586$1,166
23 years$4,065$3,174$2,451$1,875$1,424$1,028
24 years$3,855$2,974$2,267$1,711$1,280$908
25 years$3,661$2,791$2,100$1,562$1,151$803
26 years$3,483$2,623$1,947$1,428$1,037$711
27 years$3,318$2,468$1,808$1,307$935$629
28 years$3,165$2,326$1,681$1,198$844$558
29 years$3,023$2,194$1,564$1,098$762$494
30 years$2,891$2,072$1,457$1,008$688$438
31 years$2,767$1,959$1,358$926$622$389
32 years$2,651$1,854$1,267$851$563$345
33 years$2,543$1,755$1,183$782$509$307
34 years$2,441$1,664$1,106$720$461$272
35 years$2,346$1,578$1,034$663$418$242
36 years$2,255$1,498$967$610$379$215
37 years$2,170$1,422$905$562$343$191
38 years$2,090$1,352$848$518$311$170
39 years$2,014$1,285$794$478$282$151
40 years$1,941$1,223$744$441$256$134
41 years$1,873$1,164$698$407$232$120
42 years$1,808$1,109$655$375$211$106
43 years$1,746$1,056$614$347$191$95
44 years$1,687$1,007$577$320$173$84
45 years$1,631$960$541$295$158$75
46 years$1,578$916$509$273$143$67
47 years$1,527$874$478$252$130$59
48 years$1,478$835$449$233$118$53
49 years$1,431$797$422$215$107$47
50 years$1,386$761$397$199$97$42

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 72 starting with $1,420,000, adding $6,606 every year, while hoping to spend $23,210 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 68/21/11 Blend
71$1,420,000$1,420,000$1,420,000$1,420,000
72$1,571,654$1,496,394$1,474,384$1,674,423
73$1,707,268$1,545,022$1,499,081$1,792,192
74$1,855,936$1,595,255$1,523,827$1,917,542
75$2,018,966$1,647,147$1,548,599$2,054,024
76$2,197,797$1,700,754$1,573,374$2,202,728
77$2,394,015$1,756,134$1,598,125$2,364,851
78$2,609,367$1,813,347$1,622,825$2,541,711
79$2,845,776$1,872,455$1,647,443$2,734,763
80$3,105,363$1,933,522$1,671,950$2,945,603
81$3,390,460$1,996,615$1,696,310$3,175,992
82$3,703,640$2,061,803$1,720,490$3,427,869
83$4,047,737$2,129,156$1,744,452$3,703,368
84$4,425,870$2,198,749$1,768,155$4,004,840
85$4,841,479$2,270,658$1,791,559$4,334,873
86$5,298,352$2,344,962$1,814,618$4,696,319
87$5,800,661$2,421,742$1,837,285$5,092,318
88$6,353,005$2,501,084$1,859,510$5,526,327
89$6,960,449$2,583,075$1,881,242$6,002,157
90$7,628,575$2,667,806$1,902,423$6,524,004
91$8,363,532$2,755,371$1,922,997$7,096,489
92$9,172,095$2,845,867$1,942,900$7,724,705
93$10,061,729$2,939,394$1,962,067$8,414,261
94$11,040,659$3,036,059$1,980,430$9,171,334
95$12,117,948$3,135,967$1,997,917$10,002,733
96$13,303,582$3,239,233$2,014,450$10,915,955
97$14,608,563$3,345,970$2,029,949$11,919,263
98$16,045,014$3,456,301$2,044,330$13,021,758
99$17,626,294$3,570,348$2,057,504$14,233,468
100$19,367,123$3,688,242$2,069,377$15,565,441